Sun, Jul 21, 2013 - Page 13 News List

China frees up lending rates in major reform

LONG-AWAITED:Amid slowing growth, China yesterday eliminated the lower limit on loan interest rates, but left the ceiling on deposit rates unchanged

Reuters, BEIJING

More important, though, is the sign that policymakers are getting serious about tackling challenging reforms, just four months after Chinese Premier Li Keqiang (李克強) took office, analysts said.

“This is one of the biggest steps they could have taken,” Capital Economics chief Asia economist Mark Williams said. “It tells you something about the trajectory.”

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